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• Open Access Article

  15 Pages Download PDF: Workers’ Remittances and Socio-Economic Well-Being in Top Ten Remittances Receiving Developing Countries: The Role of Financial Development

  Workers’ Remittances and Socio-Economic Well-Being in Top Ten Remittances Receiving Developing Countries: The Role of Financial Development

  Mahnaz Muhammad Ali, Rozina Sadiq, Muhammad Javed

  2024-06-14 https://doi.org/10.36923/jcmi.v5i1.570

  The present study contributes empirical evidence to the impact of remittances on the socio-economic well-being of recipient nations, particularly through the enhancement of their Human Development Index (HDI) rankings. Utilizing a panel dataset comprising the top ten remittance-receiving countries over the period from 1990 to 2020, the research endeavors to offer a comprehensive analysis of the relationship between remittance inflows and HDI metrics. This investigation delves into the nuanced dimensions of HDI, namely health, education, and income per capita, to discern the specific effects of remittances on each component. The study employs the generalized method of moments (GMM) technique to mitigate potential endogeneity concerns inherent in the relationship between remittances and financial development. The findings of this empirical inquiry suggest that remittances wield a discernible influence on augmenting human well-being, particularly by fostering improvements in health and education outcomes. Additionally, the study identifies a constructive role for financial development in bolstering HDI indicators. In light of these findings, it is recommended that policymakers formulate tailored strategies aimed at facilitating remittance flows, thereby affording migrants enhanced access to robust financial systems.

  pp. 1-15 Abstract views:359 Downloads:99

• Open Access Article

  19 Pages Download PDF: The Role of Energy Investment in Promoting Economic Sustainability in Developing Countries: A CS-ARDL Analysis

  The Role of Energy Investment in Promoting Economic Sustainability in Developing Countries: A CS-ARDL Analysis

  Aqeel Ahmad, Tusawar Iftikhar Ahmad, Asma Sajjad, Sajjad Ali

  2025-12-30 https://doi.org/10.36923/jcmi.v6i2.673

  Energy investment plays a pivotal role in promoting economic sustainability through a reliable energy supply to support industrial production and innovation. The current work investigates the difference in energy investment and economic sustainability between 1990 and 2022 for 88 developing countries with an income classification. Using the Cross-Sectional Autoregressive Distributed Lag (CS-ARDL) methodology, the research simultaneously tests short- and long-run dynamics while explicitly modeling cross-sectional dependence. The results suggest that although labor force participation, capital formation, human capital, and foreign direct investment have positive impacts on economic sustainability across income levels, energy investment, especially when used for creating public-private partnerships, fosters economic growth in middle-income economies but has a negative correlation with low-income economies. Policy implications drawn from the findings indicate that boosting investment in the energy sector, with special focus on the use of renewable technologies in low- income countries, would be an effective strategy for promoting sustainable development.

  pp. 75-93 Abstract views:144 Downloads:90

• Open Access Article

  18 Pages Download PDF: Drivers of Carbon Emissions in South Asia: Analyzing Economic Growth, Urbanization, Tourism, Industrialization, and Renewable Energy

  Drivers of Carbon Emissions in South Asia: Analyzing Economic Growth, Urbanization, Tourism, Industrialization, and Renewable Energy

  Rehana Kousar, Muhammad Sharyar, Mahnaz Muhammad Ali, Rana Sharjeel Akhtar

  2025-06-22 https://doi.org/10.36923/jcmi.v6i1.617

  Rising CO₂ emissions pose a global challenge, including in South Asia. This study examines the determinants of CO₂ emissions—economic growth, urbanization, tourism, industrialization, renewable energy, agriculture, and forest area—using panel data (1990–2021) from South Asian countries. Dynamic Ordinary Least Squares (DOLS) and panel unit root tests reveal long-run relationships. Urbanization, tourism, and agricultural value-added significantly increase CO₂ emissions, while economic growth, renewable energy, and forest area negatively correlate with emissions. The findings suggest that energy-intensive urbanization, tourism, and agricultural expansion drive emissions, whereas renewable energy adoption and forest conservation mitigate them. Policymakers must prioritize sustainable urbanization, green tourism, and renewable energy transitions to curb emissions while fostering economic development.

  pp. 14-31 Abstract views:273 Downloads:146

• Open Access Article

  8 Pages Download PDF: From Income to Inclusion: A Comparative Human Capabilities Index for South Asian Economic Development

  From Income to Inclusion: A Comparative Human Capabilities Index for South Asian Economic Development

  Zaeema Farooq, Shaista Raza, Aqsa Hameed, Iqra Mehmood, Sidra Bano

  2025-06-25 https://doi.org/10.36923/jcmi.v6i1.641

  A new Comparative Human Capabilities Index (CHCI), which goes beyond conventional measures like GDP or HDI, is presented in this study to evaluate the economic progress of South Asian nations. GDP per capita, GDP per person employed, trade as a percentage of GDP, life expectancy, secondary school enrollment, and GDP per capita are the six main variables that make up the index, which is based on Amartya Sen's capability approach. Data were collected from the World Bank for eight nations between 2001 and 2015: Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, and Sri Lanka. In order to ensure comparability across variables, the CHCI was built using equal weighting and min-max normalization. The findings indicate that while Bangladesh and India have made notable progress over time, the Maldives and Sri Lanka continue to rank first in terms of human skills. Despite beginning with lower levels, Afghanistan and Nepal showed signs of improvement over time. As an alternative to more conventional indices like the Human progress Index (HDI), the index offers a more human-centered and inclusive lens through which to view the region's economic progress. This strategy emphasizes how crucial it is to make investments in productivity, health, and education in order to achieve long-term, fair development.

  pp. 111-118 Abstract views:187 Downloads:87